In asset acquisitions, a portion of consideration may be tied to ... tax forms and elections to be filed either with the tax return or separately with the IRS. Form 8832, Entity Classification ...

Each asset sold must be identified including its purchase, sale date, and sale price. The transactions reported on Form 8949 can be found on Form 1099-B: Proceeds from Broker and Barter Exchange ...

Form 8594 is the Asset Acquisition Statement, which the buyer and seller must complete and submit to the IRS. Form 4797 is the Sales of Business Property form that helps you determine whether you ...

With an asset purchase, the seller must realize capital gains or loss on the assets sold. The buyer gets a corresponding tax benefit in the form of a stepped-up tax basis for the assets purchased ...

If the buyer receives Form AU-197.1, the purchase may pay the purchase price and take possession of the assets without concern for the seller’s unpaid sales tax liability. The Buyer will not be ...